Clean Harbors INC: directors' dealings · United States · SEC (Form 4)

About Clean Harbors INC

Clean Harbors Inc. (ticker CLH) is a U.S.-based company listed on the NYSE in the United States and headquartered in Norwell, Massachusetts. For French-speaking investors, it represents one of North America’s most established environmental and industrial services platforms, with a business model that is highly regulated, asset-intensive, and supported by long-term demand for compliance-driven services. Founded in 1980, the company began as a small tank-cleaning business and has evolved into a broad environmental services operator serving industrial, commercial, and public-sector customers. Clean Harbors’ business is organized around two core pillars. The Environmental Services segment is the company’s main earnings engine and includes hazardous waste management, high-temperature incineration, secure landfill disposal, recycling services, PFAS treatment solutions, emergency spill response, and industrial cleaning and maintenance. These are typically higher-barrier activities because they require specialized assets, permits, technical know-how, and a large compliance infrastructure. The second pillar, Safety-Kleen Sustainability Solutions, is tied to used oil collection, re-refining, lubricants, and environmental services for commercial, industrial, and automotive clients. This gives the group exposure both to recurring service revenue and to more cyclical volumes and commodity-linked spreads. From a competitive standpoint, Clean Harbors benefits from a difficult-to-replicate network of specialized facilities and service capabilities. The company highlights that it serves a majority of Fortune 500 companies across industries such as chemicals, manufacturing, refining, transportation, utilities, and government. Its geographic footprint spans the United States, Canada, Mexico, Puerto Rico, and India, reinforcing its position as a North American leader with selective international reach. The franchise is supported by the need for reliable hazardous waste handling, emergency response, and increasingly PFAS-related solutions, all of which tend to be recurring and regulation-led demand streams. Recent developments have been constructive. In fiscal 2025, Clean Harbors reported record annual revenue of $6.03 billion, alongside record adjusted free cash flow and continued profitability improvement. Management also expanded the share repurchase program, signed an agreement to acquire environmental businesses from Depot Connect International, and announced a strategic investment in fleet expansion. In 2026, the company formally released PFAS disposal and treatment guidance standards, underlining its intent to position itself early in one of the most important environmental remediation themes in the market. For investors, CLH is a quality industrial-environmental compounder on the NYSE in the United States, combining regulatory tailwinds, specialized assets, and disciplined capital allocation.